New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-01-05
APLEA FOR STAT BANK CURRENCY.

sr-cGrsTIOSs MADE TO THE LEGISLATURE IN
SUPERINTENDENT PAINEs ANNUAL REPORT.
ALBANY jan 4 t>premp annual report OF Bank SUI
perntendent Willis g. Paine was submitted 10 the Less
ture to-day OF the year four new banks WIFI
madam capital Of $3.50 900 authorized The mum
Nor of hanks OF deposit discount in the state ninety
Ave Their resources September S were SIS 247274
surpIus fund So 6i5 592 undiviel profits S6o43o|o
amount due ieposltors $l3o4l6632 No bank operating
nnIer the State laws failed in the year The Seaooard
Rank of New York cha nge1 10 the National system Az
the beginning of the fiscal year. October l.
1886 there were twenty trust loan mort
gage security guarantee indemnity companies
In the State operating with an aggregate captai oi
$4,000 $50: having deposits OF $7697l344 In trust
and ST. OBJ 735 lent collateral and personal securf
ties The net increase In assets In the year was
$24l42.926.
ON October the aggregate amount Of securities held
nv the Superintendent for banks individual bankers and
trust conf anies $1,459S29 %. Concerning indi
yidual bankers the Superintendent says
T ss"s s as
lho ,s'encs and them uner .s S s ra
ion iof their ORGANIZATION doe. specify the minimum
b." banker. are e"gss IL the Hqsn H Of
Ia Ing I'r I've sb"% thu Question was al sub
nted individual bankers were no, restrie.s as
pan ~ respect the %Portant sn
the Apla required or tiyiua b.akrrt THROUGH
out slate ssrSas s
Business whicn not sufficient volume TO justify the or
esp,ta IL Is there led that the banking laws
BE- as 70 Of ooo pcpuatoS or less with
minimum capital OF $1,000
There safe deposit companies In the STATE
and eleven of these in New-York CITY, number
saws Mr. Paine greatly excess Of the needs OF the
redents OF that city That the iladvsed multiplication
of this ciass corporations he avoided 1t Is recon
nepded that law OF 1879 he amended so as 10 place
restrictions on their future organization"
fha ri N n dan
says
The of Congress approved March 1892 imposing
10 ees upon The h1 81 st no S nS an
the of erepeal that Law !. coming more mani
bank cnreny cannot be seriously maintained that
National debt se1%.a re NATIONAL Banking "De
GgSn s'"s ..s F"Sps Circulating Ss
%itoui currency Of The country would be unstable
:.rssFp a. Sy ~ aeon AKA rule
other states Of The USp @ ' . ' sn@ f he
ucs state Csnh currency lie las
e ebs,red rom the privilege o. s'nng eSu
s mote. Os n s s, ner would 70 si &c
sI ss G lien IA.
ssssis Of each Ians .eeuTs. :a.aeoIy to TIC Con
paposs rsss%ng in cases waer.
ssn.s allied :. % 10 s s p Or a
caans us no shoId Ss % 70 asS T a
Sxst 10 with the deposit Of Government honda
fho best oDtsinAb.e stofkA Ioi ethIbpic:
The stNk- bonds i state IN the Union that ma.
AIT within ten Of part oil
athsr prnc,Ial Ut deDt authorized by any
a 1ee,salure ,f such DO contracted
p The city county town or village In
amen states pursuant 10 tie soihor Of law OF That
1ast tocks Of Lody poiiic 10 be unavailable
Wien the exceeds certain percentage OF the IS
0es.ed valuation VI its real estate
br DrrIesUe 10 ona IL wou 10 aken reuy Al end
q the Union because OF its undYnDed security
The IN the sums pad out nndef he
"a 81 stat: s.chanEs would BE- great nj;
ssnction return 70 the Old custom whereby had many